Samsung Chief continues to remain under scanner for his association to the infamous political corruption scandal rocking the country, investigators allege Lee Jae-yong, vice chairman of Samsung Electronics Co, directed funds towards the former President's confidant under the garb of charity.
After the scandal surfaced, President Park Geun-hye has been impeached and his fate still hangs by the thread. Samsung Chief Lee Jae-yong has also been dragged into the controversy after investigations revealed his association to the President's close confidant. Additionally, the prosecutors are accusing Lee of authorizing unaccounted transfers to the impeached President's confidant.
Even though the authorities continue to dig deeper, the prosecutors have already demanded an arrest warrant for Samsung's de-facto leader.
The prosecutors believe that Lee wanted to bribe the officials to get more preferential treatment from the government during one of the merger deals being entered by Samsung in 2015.
Investigations claim that Lee wanted to seek favors from Choi Soon-sil who happens to be a close friend and advisor to the former President. Not just the money transfers, the favors extended to much more with Lee even buying a 900,000 USD horse from Choi's daughter.
Surfacing of these transactions is what led the authorities to Lee. He was even summoned for further interrogation and now it is possible that the Samsung Chief will be placed under arrest. If the arrest happens, it is likely to lead to the next big indictment in the case.
On its part, Samsung representatives have been denying Lee's involvement in any of the corruption charges, as reported on LA Times. Also Lee Jae-yong's rise to the top authority in Samsung has been extremely rapid.
His grandfather founded Samsung and his father Kun-Hee Lee was at the helm of affairs as the chairman, until two years ago. It was only after the hospitalization of Kun-Hee Lee that Lee Jae-yong stepped up to play a larger role in one of the nation's biggest companies.
Slash Gear further elaborates that Samsung Electronics is likely to vote in favor of Lee Jae-yong being included in the board during the next annual meeting in 2017.